Altra Holdings Inc. Announces Agreement to Acquire Bauer Gearmotor Business
Acquisition of Leading Gearmotor Manufacturer Expands Altra's Scale in Europe and Enhances Geographic Presence
Bauer is a leading European manufacturer of high-quality gearmotors, offering engineered solutions to a variety of industries, including material handling, metals, food processing and energy. In addition to a strong presence in Germany, the company has a well-established sales network in 15 additional countries in Western and Eastern Europe, Russia, China, and the United States. A privately held company headquartered in Esslingen, Germany, Bauer generated approximately 73.4 million Euro in revenue for 2010.
"This agreement is an exciting and important milestone for Altra," said Carl Christenson, Altra's president and CEO. "The acquisition of Bauer meets all of our acquisition criteria and we are looking forward to Bauer becoming an important part of Altra. The Bauer brand is very well regarded, the products are a terrific extension to our line and the geographic strengths of Bauer and Altra will provide synergistic top-line opportunities. In addition, the Bauer management team is very strong with a solid top and bottom line growth strategy that dovetails very nicely with Altra's strategy. We are particularly excited about Bauer's European and emerging market presence and Altra's ability to provide Bauer with additional access to the North American market. Karl-Peter Simon, Senior Vice President, Managing Director Danfoss Bauer GmbH, "we are happy that we have found a new owner that will support Bauer and its employees to further develop and grow the business."
About Altra Holdings, Inc.
Altra Holdings, Inc., through its subsidiaries, is a leading global designer, producer and marketer of a wide range of electromechanical power transmission products. The company brings together strong brands covering over 40 product lines with production facilities in eight countries. Altra's leading brands include Boston Gear, Warner Electric, TB Wood's, Formsprag Clutch, Wichita Clutch, Ameridrives Couplings, Kilian Manufacturing, Marland Clutch, Nuttall Gear, Stieber Clutch, Twiflex Limited, Bibby Transmissions, Matrix International, Inertia Dynamics, Huco-Dynatork and Warner Linear.
Bauer Gear Motor GmbH
Danfoss Bauer manufactures geared motors for industrial applications world wide. The BAUER Geared Motor brand well known and holds a strong position within many industry segments.
For more information please visit: www.danfoss.com/...